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Driving down the cost of prescription meds?
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Aug 31, 2023 07:59:46   #
aphelps Loc: Central Ohio
 
DaveO wrote:
People see the ads and ask their doctors to let them try it. Brilliant sales opportunity.

When in doubt about something, simply follow the money.


Most docs like to make their decisions on meds. Ads are not aimed at the decision maker

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Aug 31, 2023 08:13:55   #
DaveO Loc: Northeast CT
 
aphelps wrote:
Most docs like to make their decisions on meds. Ads are not aimed at the decision maker


?? My post suggested that the ads are aimed at the potential user who would then ask his doctor about their use.

I have seen this procedure several times with friends/co-workers.

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Aug 31, 2023 09:02:56   #
Triple G
 
pendennis wrote:
Insurance companies, as long as they're in the private sector should be able to negotiate with drug makers as long as there's no collusion, anti-trust, etc. The VA should not be able to negotiate prices. They're a branch of the Federal government. The Feds, at any level, have no business in price negotiations.

We have enough problems in our own private sector drug company businesses. The American public pays a large chunk of the freight on drug development and research when drugs are exported, and foreign countries don't allow U.S. pharmaceutical companies to pass along those legitimate costs to non-U.S. consumers. Foreign countries also cheat in not recognizing legitimate U.S. patents (This is not just in the pharmaceutical business; it's all over the spectrum).
Insurance companies, as long as they're in the pri... (show quote)


Why should drug negotiations be any different than military or other federal purchases?

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Aug 31, 2023 09:06:04   #
DaveO Loc: Northeast CT
 
Triple G wrote:
Why should drug negotiations be any different than military or other federal purchases?


You may have already guessed the reason for adverse critiques.

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Aug 31, 2023 09:07:32   #
Triple G
 
aphelps wrote:
Most docs like to make their decisions on meds. Ads are not aimed at the decision maker


Look at drug usage increase after ads were allowed. Drs. are client pleasers and when asked by a client does comply based in the volume increase after ads were allowed. They also prescribe more of the drugs represented by the last pharma's salesperson in their office.

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Aug 31, 2023 09:20:36   #
pendennis
 
Triple G wrote:
Why should drug negotiations be any different than military or other federal purchases?


Only if the Federal government is the end user (i.e. military, or other end-usage). The Feds should not be an intermediary in the private sector for any reason.

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Aug 31, 2023 09:25:57   #
BooIsMyCat Loc: Somewhere
 
I agree with Bison Bud.... 100%

To your question - Why IS it OK that the USA pays the high prices for these drugs and other countries don't?

It is total BS to call this free enterprise when 1. When the pharma industry pays our so-called "leaders" to prevent Medicare from having price negotiations, 2. When YOUR profit is based on senior citizens absorbing the brunt of those costs and 3. When other countries pay WAY less for the same brand name drug.

Everyone in this world, if they survive, will become a senior citizen some day. That means, for most, a FIXED income. It simply baffles the mind why any company would think that price gouging those people is "good business".

Think about it: The SS Administration indicates that the AVERAGE monthly SS payment is $1781.63 today. My mother-in-law got $1200/month and lived to be 95. That's $1200/month for city taxes (Chicago), food, utilities AND medical expenses! Some drugs today, cost more than what she would get in a year!.... and now, according to all the TV ads, you have to be very careful when taking these new drugs, that you don't tear your perineum!

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Aug 31, 2023 09:32:48   #
Triple G
 
pendennis wrote:
Only if the Federal government is the end user (i.e. military, or other end-usage). The Feds should not be an intermediary in the private sector for any reason.


So, the fed government can negotiate drug/medical procedure prices for their employees in plans they manage & self insure, but not for people in the organizations (Medicare, TriCare, Medicaid) in a "trust" (ssi) that they also manage and self insure? There's no reasoning behind that. In Medicare Advantage Plans which is private sector, that applies because the Plan is doing the management and risk assumption, but not in traditional Medicare.

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Aug 31, 2023 09:36:36   #
Bison Bud
 
Wow, this post turn political really quickly and got moved by the ad-min! Still an interesting discussion going on here about the situation. However, I'd really like to know how many out there think it is absurb to spend so much money on advertising drugs to the masses when they can't even purchase them directly. Apparently, this method does work in increasing sales, but I'm pretty sure it increases costs to the end users by a very large margin. While I do agree that the government should not be involved in price fixing, there are some things, like this one, that do need to be reigned in a bit, at least in my opinion!

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Aug 31, 2023 09:42:30   #
pendennis
 
thom w wrote:
As long as the government is a customer they should be able to negotiate. Big pharma can always say no. Why should the government (us) pay more then anyone else? Why do you want to pay more taxes than you have to. A large portion of R&D is funded by the government. Big Pharma charges much less in other countries, countries that have not contributed to their R&D. How much of your portfolio is made up of Big Pharma?


The Federal government shouldn't be an intermediary unless they're the end user.

Can you cite the percentage, or amounts of dollars of Pharma R&D that's funded by the government?

PS - I don't hold any Pharma stocks, etc. Not even in my IRA.

Reply
Aug 31, 2023 10:33:18   #
DennyT Loc: Central Missouri woods
 
pendennis wrote:
Insurance companies, as long as they're in the private sector should be able to negotiate with drug makers as long as there's no collusion, anti-trust, etc. The VA should not be able to negotiate prices. They're a branch of the Federal government. The Feds, at any level, have no business in price negotiations.

We have enough problems in our own private sector drug company businesses. The American public pays a large chunk of the freight on drug development and research when drugs are exported, and foreign countries don't allow U.S. pharmaceutical companies to pass along those legitimate costs to non-U.S. consumers. Foreign countries also cheat in not recognizing legitimate U.S. patents (This is not just in the pharmaceutical business; it's all over the spectrum).
Insurance companies, as long as they're in the pri... (show quote)

Reply
 
 
Aug 31, 2023 11:23:15   #
thom w Loc: San Jose, CA
 
pendennis wrote:
The Federal government shouldn't be an intermediary unless they're the end user.

Can you cite the percentage, or amounts of dollars of Pharma R&D that's funded by the government?

PS - I don't hold any Pharma stocks, etc. Not even in my IRA.


I understand it is a large amount both in dollars and in percentage. I could probably find numbers but I don't really have time as my time management skills are very poor.

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Aug 31, 2023 11:43:19   #
skylane5sp Loc: Puyallup, WA
 
thom w wrote:
I understand it is a large amount both in dollars and in percentage. I could probably find numbers but I don't really have time as my time management skills are very poor.
Then PLEASE do yourself (and us) the immense favor and public service of not wasting any more of your precious time here with your useless waffling.

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Aug 31, 2023 11:59:30   #
BooIsMyCat Loc: Somewhere
 
pendennis wrote:
The Federal government shouldn't be an intermediary unless they're the end user.

Can you cite the percentage, or amounts of dollars of Pharma R&D that's funded by the government?

PS - I don't hold any Pharma stocks, etc. Not even in my IRA.


100%

From what I read the taxpayers have foot the bill for every new drug in the last decade.

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Aug 31, 2023 12:23:11   #
lenben Loc: Seattle
 
thom w wrote:
As long as the government is a customer they should be able to negotiate. Big pharma can always say no. Why should the government (us) pay more then anyone else? Why do you want to pay more taxes than you have to. A large portion of R&D is funded by the government. Big Pharma charges much less in other countries, countries that have not contributed to their R&D. How much of your portfolio is made up of Big Pharma?


Note that the research funded usually through NIH to develop new pharmaceuticals, does not include $$ credit by big pharma so they get the products commonly free and don't feel obligated to lower the price to reflect the publics share of the cost of development.

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